Agreement to support Lebanese exports to European Union

The Netherlands-based Center for the Promotion of Imports from developing countries (CBI) signed a Memorandum of Understanding (MoU) with the Investment Development Authority of Lebanon (IDAL), along with the Chamber of Commerce, Industry and Agriculture of Beirut & Mount Lebanon, to improve the accessibility of Lebanese exports to European Union (EU) countries, Byblos Bank's Lebanon This Week reported. Under the agreement, the CBI will offer technical assistance, including training and capacity building, among other support, to Lebanese producers and exporters.

The assistance would mainly focus on enhancing the export environment of Lebanese agricultural and agro-food products to the EU market. The cooperation is expected to last until the end of 2016, and can be renewed in case of need.

The CBI is part of the Netherlands Enterprise Agency and is commissioned by the Ministry of Foreign Affairs of the Netherlands to support producers and exporters from developing countries to enter the EU market. It contributes to sustainable economic development in developing countries through the expansion of exports from these economies. Lebanese exports to the EU market accounted for 14% of total Lebanese exports in the first quarter of 2016, for 11.6% in full year 2015 and for 11.1% in full year 2014.